Word: mobilize
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Biggest example of the new financing technique is the 45-story, 1,600,000-sq.-ft. Socony Mobil Building across from Grand Central Terminal. On the basis of plans drawn by Architects Wallace Kirkman Harrison and Max Abramovitz, Real-Estate Men Peter Ruffin and John Galbreath got Socony Mobil to sign a letter of intent for a 25-year lease on nearly half the proposed building. They took the plans and tentative leases to the Equitable Life Assurance Society, which put up $37.5 million in principal financing for the building. Next month the Socony Mobil Building, world's largest...
...some 700 corporations all over the world, with an estimated book value of $46.5 million. While details of the portfolio are denied even to stockholders by the close-mouthed management, the company is known to hold blocks in Bendix Aviation, General Electric, General Motors, St. Regis Paper, Socony Mobil Oil. In addition the company holds another $54.3 million in short-term investments (mainly British and French treasury bills), which together with real estate, cash and materials bring net assets to a minimum of $290 million, exclusive of canal holdings...
OCTANE RACE is getting hotter among gasoline producers. Socony Mobil Oil Co. will market at regular prices new "Mobilgas-R" with high enough octane rating for knock-free performance in most cars. In the premium field, Esso Standard Oil Co. will soon market special "Golden Esso Extra" with octane rating of more than 97. Sun Oil Co. in Florida is blending gas at the pump, giving drivers a choice of five grades of fuel. Top-grade rating: over...
...companies turned in rich earnings reports. Socony Mobil announced alltime high sales of $1.7 billion for 1955, with earnings of $207 million, up nearly $24 million from 1954. Gulf reported 1955 sales and service revenue of $1.8 billion, with profits of $218 million, 19% higher than...
...Socony Mobil paid an extra 50? a share; Texaco gave stockholders an unexpected $1.10 a share, in addition upped the usual quarterly dividend from 75? to 90? ; U.S. Steel tacked an additional 15? onto its regular quarterly payment of 50?; I.B.M. declared a 2.5% stock dividend; Deere & Co. upped its dividend...